Tekedia Forum

How To Win Locally by Jack Ma; Symbolism of Name

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According to Fortune, Alibaba’s Jack Ma had three pieces of advice for businesses that want to do business in China. They as follows:

  1. Show some respect. “Respect the culture, respect the market, respect the consumers.”
  1. Send great entrepreneurs to lead your business in China, not professional managers. “Those people make the boss happy, they do not make the customers happy.”
  1. Have patience. “Starbucks was here for 18 years. First nine were horrible; last nine were great.”

I can say that what Mr. Ma noted here could also apply to Nigeria and Africa.  We need to be entrepreneurial, show respect to the local culture, and then have patience because most times it takes time for things to work.

Symbolism of Name

What is in a name? You may ask! It turns out that, for many, there are many things. Walmart Stores has cut off the 'Stores" in its name. It is now Walmart. Sure, you do not need a store any more to shop in Walmart.

Wal-Mart Stores dropped the ‘Stores' from its official name, in a symbolic move that reflects its evolution beyond brick and mortar retail. CEO Doug McMillon said in a statement that he felt the name change was needed to be "consistent with the idea that you can shop us however you like as a customer." 

Anything it will take to remove any friction in the thinking of the customers, do it.

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Wow! Make the idea of what you are and what you do Very Clear. Guide your customer's Perception of You.

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The second point is key, and you don't get that done by wearing suit and scrolling slides, just to make shareholders feel good. As for name, there's so much in it, largely intrinsic ofcourse, but the impression is all that matters.

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Thanks Prof., for the article. I particularly enjoyed this- "Anything it will take to remove any friction in the thinking of the customers, do it." Perception drives everything in my opinion, therefore if you want to change the narrative, you need to change what you are projecting.

I must commend the rate at which you create content, it's unparalleled. Good job Prof.

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Awesome - thanks. We like having you all here.

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Quote from Guest on December 7, 2017, 5:18 pm

Wow! Make the idea of what you are and what you do Very Clear. Guide your customer's Perception of You.

That is the idea  of 21st century marketing. Figure out strategies to turn production and marketing into a single, continuos process.

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Your write ups are excellent! Captivating and short, however, with so much content. Blows my mind. There should be a like and share button somewhere. To share this to the world.

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Thanks - this one is Forum with minimal design. The main articles, usually longer, have social media share buttons. Nevertheless, if you copy this page link to any social media, it works.